Colombia: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in Colombia

The Colombian wooden bedroom furniture market contracted slightly to $X in 2022, declining by -3.7% against the previous year. In general, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.7% against 2020 indices. Wooden bedroom furniture consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Wooden Bedroom Furniture Production in Colombia

In value terms, wooden bedroom furniture production declined to $X in 2022 estimated in export price. Over the period under review, the total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.9% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 24%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Wooden Bedroom Furniture Exports

Exports from Colombia

In 2022, the amount of wooden furniture of a kind used in the bedroom exported from Colombia shrank rapidly to X units, dropping by -24% against the previous year. Overall, total exports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +49.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 96% against the previous year. As a result, the exports attained the peak of X units, and then reduced remarkably in the following year.

In value terms, wooden bedroom furniture exports reduced dramatically to $X in 2022. In general, exports, however, enjoyed measured growth. The most prominent rate of growth was recorded in 2021 with an increase of 100%. As a result, the exports reached the peak of $X, and then fell markedly in the following year.

Exports by Country

Chile (X units), the United States (X units) and Panama (X units) were the main destinations of wooden bedroom furniture exports from Colombia, together comprising 61% of total exports. Costa Rica, Guatemala, Peru, Mexico, El Salvador and Ecuador lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by El Salvador (with a CAGR of +56.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wooden bedroom furniture exported from Colombia were Panama ($X), the United States ($X) and Chile ($X), with a combined 68% share of total exports. Guatemala, El Salvador, Costa Rica, Mexico, Peru and Ecuador lagged somewhat behind, together comprising a further 26%.

Among the main countries of destination, El Salvador, with a CAGR of +57.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wooden bedroom furniture export price stood at $X per unit in 2022, standing approx. at the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 36% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per unit), while the average price for exports to Ecuador ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Bedroom Furniture Imports

Imports into Colombia

Wooden bedroom furniture imports into Colombia contracted slightly to X units in 2022, with a decrease of -3% against the year before. In general, imports, however, showed resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of 65% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then declined slightly in the following year.

In value terms, wooden bedroom furniture imports fell notably to $X in 2022. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.5% against 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 46% against the previous year. As a result, imports attained the peak of $X, and then fell dramatically in the following year.

Imports by Country

In 2022, Brazil (X units) constituted the largest wooden bedroom furniture supplier to Colombia, with a 74% share of total imports. Moreover, wooden bedroom furniture imports from Brazil exceeded the figures recorded by the second-largest supplier, China (X units), fivefold.

From 2012 to 2022, the average annual growth rate of volume from Brazil totaled +27.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.1% per year) and Italy (+28.7% per year).

In value terms, Brazil ($X) constituted the largest supplier of wooden furniture of a kind used in the bedroom to Colombia, comprising 70% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Brazil totaled +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.6% per year) and Italy (+6.6% per year).

Import Prices by Country

The average wooden bedroom furniture import price stood at $X per unit in 2022, waning by -13.3% against the previous year. In general, the import price showed a abrupt descent. The most prominent rate of growth was recorded in 2021 an increase of 3.3% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-3.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :